The company reported one quarter of lower EPS in the past four years (-6% in Q1 2012). Other than that, results since 2009 ranged between gains of 3% and 19%.

But when Mindray reported its Q1 on May 6, the company showed EPS of 53 cents, a gain of 56% from its year-earlier net. The Street had been expecting just 41 cents (which would have represented a gain of 21%).

Also impressive, that 56% profit surge was Mindray Medical's best such showing in years.

That quarterly report held other good news: After-tax margin climbed to 26.7%, its best since Q1 of 2010. And the number of funds holding Mindray shares climbed to 272, up from 235 in last year's Q4 and 219 in Q3.

Now the bad news: Sales rose just 11%, its lowest since Q3 of 2010 and below estimates.

Domestic orders, which accounted for 42% of 2011 revenue, rose 21%. But U.S. sales were flat and orders from the EU rose in the mid-teens — both disappointments.

All in all, the market didn't like this report. Mindray Medical opened May 7 with a downside gap, slicing below its 50-day line and ceding 6% in four times its normal volume.

But Mindray started moving up the very next day, starting an eight-day winning streak. All but one of those wins appeared with heavy volume.

On Friday, Mindray broke out past its 40.60 buy point from a flat base as volume swelled to twice its average pace to 1.23 million shares.

Now Mindray shows all the usual signs of institutional interest, including an A Accumulation/Distribution Rating and a very impressive 2.5 up-down volume ratio.

Monday saw the stock back off just 1%, ending 2% above its buy point. And volume on Monday's dip ran slightly below average, painting the picture of a calm, orderly rest after a frantic breakout so far.

The company reported one quarter of lower EPS in the past four years (-6% in Q1 2012). Other than that, results since 2009 ranged between gains of 3% and 19%.

But when Mindray reported its Q1 on May 6, the company showed EPS of 53 cents, a gain of 56% from its year-earlier net. The Street had been expecting just 41 cents (which would have represented a gain of 21%).

Also impressive, that 56% profit surge was Mindray Medical's best such showing in years.

That quarterly report held other good news: After-tax margin climbed to 26.7%, its best since Q1 of 2010. And the number of funds holding Mindray shares climbed to 272, up from 235 in last year's Q4 and 219 in Q3.

Now the bad news: Sales rose just 11%, its lowest since Q3 of 2010 and below estimates.

Domestic orders, which accounted for 42% of 2011 revenue, rose 21%. But U.S. sales were flat and orders from the EU rose in the mid-teens — both disappointments.

All in all, the market didn't like this report. Mindray Medical opened May 7 with a downside gap, slicing below its 50-day line and ceding 6% in four times its normal volume.

But Mindray started moving up the very next day, starting an eight-day winning streak. All but one of those wins appeared with heavy volume.

On Friday, Mindray broke out past its 40.60 buy point from a flat base as volume swelled to twice its average pace to 1.23 million shares.

Now Mindray shows all the usual signs of institutional interest, including an A Accumulation/Distribution Rating and a very impressive 2.5 up-down volume ratio.

Monday saw the stock back off just 1%, ending 2% above its buy point. And volume on Monday's dip ran slightly below average, painting the picture of a calm, orderly rest after a frantic breakout so far.

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